Saturday, April 23, 2011
Market Timing-Whats Next -April 21st- weekend report
Ive re labeled some of Columbia's Elliott waves to show a possible "B" wave TOP occurring
as ive projected on August 17th, 2011, thus leaving the door open for the INFAMOUS "C" wave to take place between Aug17,2011 and June 2012, or at least most of it. IF we remember Oct 2002 lows were also followed up in March 2003 by a secondary low, and we should probably expect about the same in the coming wave.
Using FIBO once again, we can project a possible high at 1373
900 pts lost in 2008 -2009
900 x 78.6% =707
707 + 666 = 1373
Since the current leg exceeded 62,8% retrace at 1225, shouldn't we expect the spx to seek the next higher fibo level at 1373?
1340 represents 75% retrace